AM Best assigns credit ratings to a federated specialty insurance company; Affirms Credit Ratings of Mutua Federativa de Seguros and Main Subsidiaries | Business Insurance

know about this AM Best assigns credit ratings to a federated specialty insurance company; Affirms Credit Ratings of Mutua Federativa de Seguros and Main Subsidiaries

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OLDWICK, NJ–(COMMERCIAL WIRE)–
I am better has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) to Federated Specialty Insurance Company (Federated Specialty) (Dover, DE). The outlook assigned to these Credit Ratings is stable. At the same time, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of Mutual Insurance Federation (Mutual Federativa) and its main subsidiaries, Federated Service Insurance Company, Federated Reserve Insurance Company Y Re Granite, Inc. (oklahoma city, ok). These companies are collectively referred to as Federated Mutual (Federated). In addition, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of Federated Life Insurance Company (Federated Life). The outlook on these ratings is stable. All companies are domiciled in Owatonna, MN unless otherwise specified.

Federated Specialty’s ratings reflect the strength of the company’s balance sheet, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and adequate enterprise risk management (ERM).

Federated Specialty is a newly formed specialty insurer that focuses on US surplus accounts and surplus lines. These ratings reflect the strategic importance of Federated Specialty to its parent company, along with its common ownership and management, and the implicit and explicit support provided to Federated Specialty by Federated Mutual.

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Federated’s ratings reflect the strength of the group’s balance sheet, which AM Best assesses as the strongest, as well as its adequate operating performance, favorable business profile and appropriate ERM.

Federated maintains the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), supported by a conservative investment portfolio, favorable reserve development and a strong reinsurance program. Additionally, the group has reported consistent profitability with generally favorable performance metrics. Federated provides a variety of commercial property and casualty coverages in most of the continental territory. USA.

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Federated Life’s ratings reflect the strength of the company’s balance sheet, which AM Best rates as the strongest, as well as its strong operating performance, favorable business profile and appropriate ERM.

This news release relates to credit ratings that have been posted on the AM Best website. For full rating information related to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity Web page. For additional information on the use and limitations of credit rating opinions, see Best Credit Score Guide. For information on the proper use of Best’s Credit Ratings, Best’s Performance Reviews, Best’s Preliminary Credit Reviews, and AM Best’s press releases, see Guide to the proper use of Best ratings and evaluations.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Based in the United StatesThe company does business in more than 100 countries with regional offices in London, amsterdam, Dubai, Hong Kong, Singapore Y Mexico City. For more information visit www.ambest.com.

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Copyright © 2022 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Michael Venice
Senior Financial Analyst

+1 908 439 2200, ext. 5034

[email protected]

Christopher Sharky
Manager, Public Relations

+1 908 439 2200, ext. 5159

[email protected]

Robert Raber
director

+1 908 439 2200, ext. 5696

[email protected]

jim pevy
Communications director

+1 908 439 2200, ext. 5644

[email protected]

Source: AM Best